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The 10-year Treasury Yield Increases To 4.80%, Highest In 16-years

The 10-year Treasury yield reaches highest point since 2007 as Central Bank officials ponder the possibility of another rate increase.

Posted October 5, 2023

The 10-year Treasury yield, a common measurement for core inflation and mortgage rates, struck its highest point since 2007 on Tuesday.

The yield reached a high point of 4.804 percent on Tuesday. In addition, the 30-year Treasury yield also experienced its highest since 2007 with an increase to 4.924 percent.

The 2-year Treasury yield increased slightly to 5.144 percent.

On Monday, Federal Reserve Gov. Michelle Bowman said further increases to interest rates will be necessary for efforts to lower inflation.

“Inflation continues to be too high, and I expect it will likely be appropriate for the committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way,” Bowman said at a conference.

The Federal Reserve Bank has two central bank policy meetings remaining this year, Oct. 31-Nov. 1 and Dec. 12-13, where officials will decide to give way to another rate hike.